GRASIM H1 NET CRASHES 30 PER CENT

Article Abstract:

Grasim Industries has posted a fall in its net profit to Rs87 crore during April-September 1998 (Rs125 crore during April- September 1997). During the period, it posted a 7 percent fall in cement and sponge production. In terms of volume, the cement sales fell by 7.3 percent while that of sponge iron fell by 37 percent. Grasim also posted a 6.4 percent rise in the production of Viscose staple fibre production and a 2 percent fall in the sales. It also posted a rise in depreciation due to the commissioning of a staple fibre plant at Kharach. (ag)

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GRASIM KNITS Rs16.7-CR NET PROFIT

Article Abstract:

Grasim Industries of the AV Birla group has registered a net profit of Rs16.7 crore on sales of Rs795.3 crore in the third quarter ended December 31, 1998. The company posted a net profit of Rs109.8 crore on a net turnover of Rs2556 crore in the first nine months of 1998-99 against a net profit of Rs173.1 crore on a net turnover of Rs2625 crore in the first nine months of 1997-98. Its sales volumes in sponge iron fell by 35.7 percent to 3.7 lakh tonnes in the first nine months of 1998-99. (khr)

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